At Home Group's (NASDAQ:HOME) top bull is pulling back on its price target after it "got the stock path wrong."
Morgan Stanley has trimmed its price target to $33 from $40, in the wake of an earnings report Thursday that sent shares down by double digits.
That provides a setback to 2019 estimates, but that will serve as a transitional profit year as the "business isn't broken" and longer-term EPS power is "relatively unscathed," the firm says. (h/t Bloomberg)
Shares are nonetheless down just 0.2% in last after-hours action, from the first half hour after the close.
The new price target still implies nearly 63% upside from today's close.
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